Factors That Impact The Cost Of Your Car Insurance Policy In Pensacola
When determining your auto insurance cost in Pensacola, insurance companies consider various factors, including:
State Requirements: Your policy must meet the minimum coverage mandated by the state of Florida, which is $10,000 in damage liability and $10,000 in personal injury protection (PIP).
Your Age: Younger drivers often face higher rates due to their inexperience and higher likelihood of accidents. Rates generally start decreasing after turning 25.
Your Car’s Make and Model: Safer vehicles typically lead to lower rates. For instance, insuring a late-model Toyota Corolla usually costs less than a Chevrolet Corvette.
Driving Record: Previous accidents and traffic violations can lead to significant rate increases, as they indicate a higher likelihood of filing future claims.
Yearly Mileage: Those with long commutes tend to pay more compared to those who drive less frequently.
Credit History: A higher credit score often results in lower rates. Insurers have found that individuals with higher scores tend to file fewer claims.
Zip Code: Depending on your work location and overnight parking spot, your vehicle’s risk of vandalism or damage can affect your rate. This might lead to discounts or rate increases.
Marital Status: Married drivers generally receive lower rates than single drivers.
Gender: Men around the age of 45 typically pay around 6% less than females of the same age. However, the gender difference tends to level out for drivers in their 30s.